That's a good distinction in general. I'm not sure how much they could really change the way it's told though, without it being an obvious failure to replicate the experience of the original.
They'll definitely change the dialogue, which is fine. What else are they gonna change though? Add a first person narrator or something? Or make events happen off-screen in FFXV style?
Even just the fact that they'll be changing dialogue is significant, but we're also going to be getting different presentations of even the stuff that isn't changed. The new camera angles -- to say nothing of the voice acting -- will change so much with regard to pacing, delivery, impact, etc.
Something else that sticks out in my mind is something like Cloud's reaction to Aerith's death right after it happened. It was worded and directed as it was because of the limitations of the graphics, yet this also made the scene have more impact.
If the angle and words were kept the same now in an attempt to preserve what made the original telling so effective, would it just feel melodramatic? Like a forced attempt at pathos rather than a more "natural" unfolding from just showing us Cloud's tears?
If presented the more "natural" way, though, will this iconic moment feel lessened?
Man, if anything, the more I think about it, the more I imagine that having the original game to follow as a blueprint may actually make things more difficult.